Ethereum price recovery hinges on $2,526 breakout

Ethereum price rebounded toward $2,420 after a sharp sell-off, but weak capital flows and resistance near $2,465 leave ETH exposed to another correction. Summary Ethereum price fell below $2,400 before recovering to about $2,421 during Tuesday’s session. The daily RSI dropped to 52.09 as momentum weakened from its recent overbought reading. 4-hour Supertrend resistance stands at $2,526, while Chaikin Money Flow remains negative. Analysts see downside toward $2,143 or lower if ETH loses its weekly support. Ethereum price action today Ethereum (ETH) price was trading near $2,421 on Sep. 16 after recovering from an intraday low of $2,382.70, according to Binance data shown on TradingView. ETH opened the current daily candle at $2,398.26 and rose about 0.95%, partially reversing the previous decline. The rebound followed a broader sell-off that briefly pulled ETH below the $2,400 psychological level. Market pressure intensified after the Digital Asset Market CLARITY Act failed to advance in the U.S. Senate. The bill’s cloture motion reportedly failed in a 49-50 vote, short of the 60 votes needed to proceed. Its defeat weakened expectations that Congress would soon establish clearer divisions between the Securities and Exchange Commission and the Commodity Futures Trading Commission. You might also like: Ethereum price loses $2,500 as MACD turns bearish Ethereum was particularly vulnerable because the pullback followed several failed attempts to remain above the $2,500 area. The token recently traded as high as roughly $2,660 before sellers pushed it back toward its current range. Derivatives added to the pressure. Ethereum accounted for about $250 million in liquidations during the broader market decline, as the loss of $2,450 forced leveraged long positions to close. Technical indicators point to fading momentum Ethereum’s daily chart shows that the recovery remains below the Bollinger Bands’ middle line at $2,464.49. That level now forms the first technical barrier above the market. Ethereum price daily chart — Sep. 16 | Source: crypto.newsThe upper Bollinger Band sits at $2,544.69, placing the broader resistance zone between approximately $2,465 and $2,545. A daily close above that range would strengthen the case that the correction has ended. ETH is also holding just above the lower Bollinger Band at $2,384.30. Buyers defended that level during Tuesday’s decline, with the session low reaching $2,382.70 before price recovered. The daily relative strength index stands at 52.09. Although the reading remains above the neutral 50 mark, it has fallen below its moving average of 61.02 after retreating from overbought territory. The decline shows that bullish momentum has faded since ETH’s late-August rally. Conditions look weaker on the 4-hour chart. Ethereum trades below Supertrend resistance at $2,526.61, while the indicator’s former support near $2,441.90 has been lost. ETH would need to reclaim both levels to weaken the short-term bearish setup. Ethereum price 4-hour chart — Sep.